Them What Hasn’t 0
Robert Kuttner, writing in the Boston Globe, slices and dices the current wailing and gnashing of shears over the deficit, pointing out that the solution is in feeding the economy, not in starving the citizenry. Here are his main points; follow the link for the full argument (emphasis added):
There are three huge flaws in the austerity program.
- First, in a deep and prolonged slump, the economy needs more public outlay, not less, to make up for a paralyzed private economy.
(snip)
- The second flaw is the timing and composition of the proposed deficit reduction plan.
(snip)
Everything is supposed to be on the table, but repealing the Bush tax cuts for the wealthy is not part of the proposed package. Nor are other notable increases in taxation of the best-off. Two thirds of the deficit-reduction would come from cuts in spending, and the proposed revenue increases would mostly hit the middle class.
- A third flaw is the inclusion of Social Security cuts. Social Security has nothing to do with the current deficit, and is in surplus for the next 27 years.
The underlying principle of the plan seems to be that those who should sacrifice the most is them what hasn’t.
